ACTIVE

BULTERYS

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Financial year 2025 · closed on 31/12/2025

Net result

758,6 k €

+47.3% YoY

Gross margin

2,7 M €

+22.9% YoY

Equity

3 M €

-19.7% YoY

Workforce

9,3 ETP

+5.7% YoY

What does BULTERYS do?

BULTERYS is a Public limited company incorporated in 1972. Its registered office is in Schaerbeek. It employs on average 9,3 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0412.863.474

Incorporation

15/12/1972

Legal form

Public limited company

Registered office

Boulevard Général Wahis 16 box F
1030 Schaerbeek · BruxellesSee on map

Contributed capital

100 000,00 €

Latest accounts

31/12/2025

Average workforce

9,3 ETP

Joint committees (2)

303
30304

Contacts

2 public details availableLog in to view

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	2,7 M €	+22.9%	2,2 M €	+9.4%	2 M €	+32.0%	1,5 M €	+6.7%	1,4 M €	+71.8%	821,3 k €	-27.3%	1,1 M €	+13.7%	994,4 k €	+19.8%	829,8 k €	-32.4%	1,2 M €	+87.1%	655,9 k €	-4.4%	686,1 k €	+15.4%	594,6 k €	-0.8%	599,5 k €	-1.6%	609,2 k €	-21.1%	771,9 k €	+33.5%	578,4 k €	-33.8%	873,1 k €	+39.1%	627,6 k €	+132%	270 k €
EBITDA	2 M €	+30.6%	1,5 M €	+8.0%	1,4 M €	+38.5%	1 M €	+3.8%	995,4 k €	+78.8%	556,6 k €	-33.1%	831,6 k €	+20.5%	690,2 k €	+46.8%	470,3 k €	-47.8%	900,5 k €	+134%	384,4 k €	-8.8%	421,5 k €	+34.1%	314,3 k €	-13.3%	362,4 k €	+22.0%	297,1 k €	-30.5%	427,7 k €	+85.8%	230,2 k €	-56.9%	533,9 k €	+49.1%	358,1 k €	+126%	158,5 k €
Operating result	1 M €	+43.8%	714,3 k €	-8.6%	781,4 k €	+82.7%	427,8 k €	-7.9%	464,3 k €	+699%	58,1 k €	-68.6%	184,9 k €	+53.6%	120,4 k €	+115%	56 k €	-88.5%	485,8 k €	+946%	46,4 k €	-64.6%	131 k €	+199%	43,9 k €	-51.7%	90,8 k €	+60.0%	56,8 k €	-68.0%	177,6 k €	+755%	20,8 k €	-94.4%	374,4 k €	+168%	139,7 k €	+386%	28,7 k €
Net result	758,6 k €	+47.3%	515,1 k €	-9.1%	566,6 k €	+74.3%	325 k €	-5.0%	342,1 k €	+468%	60,2 k €	-53.4%	129,2 k €	+22.1%	105,8 k €	+355%	23,3 k €	-92.5%	309,7 k €	+775%	35,4 k €	-56.8%	81,9 k €	+197%	27,6 k €	-46.0%	51,1 k €	-19.3%	63,3 k €	-47.0%	119,6 k €	+266%	32,7 k €	-88.4%	282,2 k €	+139%	118,2 k €	-95.5%	2,6 M €
Balance sheet
Equity	3 M €	-19.7%	3,8 M €	+15.9%	3,2 M €	+21.1%	2,7 M €	+13.8%	2,4 M €	+17.0%	2 M €	+3.4%	2 M €	+7.1%	1,8 M €	+6.9%	1,7 M €	+1.4%	1,7 M €	-10.2%	1,9 M €	+1.9%	1,8 M €	+4.7%	1,8 M €	+1.6%	1,7 M €	+3.1%	1,7 M €	+3.9%	1,6 M €	-69.7%	5,3 M €	+0.6%	5,3 M €	+5.6%	5 M €	+2.4%	4,9 M €
Total assets	4,1 M €	-11.4%	4,7 M €	+17.2%	4 M €	+17.7%	3,4 M €	+5.1%	3,2 M €	+11.1%	2,9 M €	+1.8%	2,8 M €	+2.5%	2,8 M €	+6.2%	2,6 M €	+5.2%	2,5 M €	-0.6%	2,5 M €	+6.6%	2,3 M €	+1.0%	2,3 M €	-2.1%	2,4 M €	+1.8%	2,3 M €	-1.1%	2,4 M €	-57.5%	5,6 M €	-2.2%	5,7 M €	-1.9%	5,8 M €	+1.6%	5,7 M €
Cash	383,8 k €	-68.0%	1,2 M €	+57.7%	760,2 k €	-4.6%	797 k €	+32.7%	600,5 k €	-18.8%	739,7 k €	-14.7%	867 k €	+33.5%	649,6 k €	+2.8%	631,8 k €	+63.3%	386,8 k €	-19.2%	478,5 k €	+5.5%	453,4 k €	+5.5%	429,9 k €	-1.8%	437,8 k €	+47.5%	296,8 k €	+192%	101,7 k €	-37.7%	163,3 k €	-42.0%	281,7 k €	-6.3%	300,7 k €	+133%	129,1 k €
Debts	1,1 M €	+24.0%	889,8 k €	+22.0%	729,5 k €	+4.5%	698,4 k €	-18.0%	851,3 k €	-2.1%	869,8 k €	+2.3%	850,1 k €	-4.8%	893,1 k €	+10.0%	812,2 k €	+19.5%	679,8 k €	+8.4%	627 k €	+23.2%	509 k €	-9.3%	561,3 k €	-11.7%	635,6 k €	+2.8%	618,4 k €	-10.2%	688,6 k €	+375%	145 k €	-47.1%	274,3 k €	-61.0%	703 k €	-0.4%	705,8 k €
Other
Workforce	9,3 ETP	+5.7%	8,8 ETP	+8.6%	8,1 ETP	-4.7%	8,5 ETP	+7.6%	7,9 ETP	+9.7%	7,2 ETP	+7.5%	6,7 ETP	-1.5%	6,8 ETP	0.0%	6,8 ETP	-1.4%	6,9 ETP	+13.1%	6,1 ETP	+24.5%	4,9 ETP	-3.9%	5,1 ETP	+10.9%	4,6 ETP	-36.1%	7,2 ETP	+16.1%	6,2 ETP	-4.6%	6,5 ETP	+1.6%	6,4 ETP	+39.1%	4,6 ETP	+9.5%	4,2 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 30 ended

Active mandates

D.U.B.

Director · since 17 février 2023 · 0842.072.935

Represented by Gil DELVENNE

Active

Ended mandates

D.U.B.

Director · since 23 octobre 2024 · 0842.072.935

Represented by Steve COLLIE

Ended

D.U.B.

Managing director · since 10 février 2012 · until 31 mai 2017 · 0842.072.935

Represented by Gil DELVENNE

Ended

D.U.B.

Managing director · since 10 février 2012 · until 31 mai 2017 · 0842.072.935

Represented by Gil DELVENNE

Ended

D.U.B.

Managing director · since 10 février 2012 · until 09 mai 2023 · 0842.072.935

Represented by Gil DELVENNE

Ended

At this address

Other companies at this address

Company	CBE no.
C&K BELGIUM SERVICES● Active	0639.889.402
Delivco● Active	0838.837.984
D.U.B.● Active	0842.072.935
ELONEX BENELUX● Liquidation	0440.518.966
Film Facilities Company● Active	0466.599.494
JG Asset Management● Active	0463.907.646
PAGOD● Active	0476.887.137

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	23/07/2026	29/09/2025	01/08/2024	22/08/2023	30/08/2022	13/08/2021
General meeting	06/07/2026	24/09/2025	14/05/2024	09/05/2023	10/05/2022	11/05/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	06/07/2026	23/07/2026	French	PDF
Abridged model	31/12/2024	24/09/2025	29/09/2025	French	PDF
Abridged model	31/12/2023	14/05/2024	01/08/2024	French	PDF
Abridged model	31/12/2022	09/05/2023	22/08/2023	French	PDF
Abridged model	31/12/2021	10/05/2022	30/08/2022	French	PDF
Abridged model	31/12/2020	11/05/2021	13/08/2021	French	PDF
Abridged model	31/12/2019	08/09/2020	16/10/2020	French	PDF
Abridged model	31/12/2018	14/05/2019	12/08/2019	French	PDF
Abridged model	31/12/2017	08/05/2018	08/08/2018	French	PDF
Abridged model	31/12/2016	09/05/2017	27/07/2017	French	PDF
Abridged model	31/12/2015	10/05/2016	17/08/2016	French	PDF
Abridged model	31/12/2014	12/05/2015	22/07/2015	French	PDF
Abridged model	31/12/2013	13/05/2014	09/07/2014	French	PDF
Abridged model	31/12/2012	14/05/2013	01/08/2013	French	PDF
Abridged model	31/12/2011	08/05/2012	11/07/2012	French	PDF
Abridged model	31/12/2010	10/05/2011	29/08/2011	French	PDF
Abridged model	31/12/2009	11/05/2010	26/05/2010	French	PDF
Abridged model	31/12/2008	12/05/2009	31/07/2009	French	PDF
Abridged model	31/12/2007	13/05/2008	26/06/2008	French	PDF
Abridged model	31/12/2006	08/05/2007	26/06/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 10 M€ and 25 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 30 ended

Active mandates

D.U.B.

Director · since 17 février 2023 · 0842.072.935

Represented by Gil DELVENNE

Active

Ended mandates

D.U.B.

Director · since 23 octobre 2024 · 0842.072.935

Represented by Steve COLLIE

Ended

D.U.B.

Managing director · since 10 février 2012 · until 31 mai 2017 · 0842.072.935

Represented by Gil DELVENNE

Ended

D.U.B.

Managing director · since 10 février 2012 · until 31 mai 2017 · 0842.072.935

Represented by Gil DELVENNE

Ended

D.U.B.

Managing director · since 10 février 2012 · until 09 mai 2023 · 0842.072.935

Represented by Gil DELVENNE

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Other07/11/2024
DIVERS
PDF
Mandates07/11/2024
DEMISSIONS, NOMINATIONS
PDF
Mandates23/02/2023
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - DIVERS - SIEGE SOCIAL - DEMISSIONS, NOMINATIONS
PDF
Other03/07/2018
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates03/07/2018
DEMISSIONS, NOMINATIONS
PDF
Other15/09/2017
DIVERS
PDF
Mandates06/03/2012
DEMISSIONS, NOMINATIONS
PDF
Mandates20/09/2011
DEMISSIONS, NOMINATIONS
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 2025758,6 k €↑
2024
Annual accounts 2024515,1 k €↓
2023
Annual accounts 2023566,6 k €↑
2022
Annual accounts 2022325 k €↓
2021
Annual accounts 2021342,1 k €↑
2020
Annual accounts 202060,2 k €↓
2019
Annual accounts 2019129,2 k €↑
2018
Annual accounts 2018105,8 k €↑
2017
Annual accounts 201723,3 k €↓
2016
Annual accounts 2016309,7 k €↑
2015
Annual accounts 201535,4 k €↓
2014
Annual accounts 201481,9 k €↑
2013
Annual accounts 201327,6 k €↓
2012
Annual accounts 201251,1 k €↓
2011
Annual accounts 201163,3 k €↓
2010
Annual accounts 2010119,6 k €↑
2009
Annual accounts 200932,7 k €↓
2008
Annual accounts 2008282,2 k €↑
2007
Annual accounts 2007118,2 k €↓
2006
Annual accounts 20062,6 M €
15/12/1972
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

BULTERYS

Overview

What does BULTERYS do?

Trend over 20 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline